SASKATOON, SASKATCHEWAN — (Marketwired) — 09/12/13 — Concentra Financial Services Association (“Concentra”) announced today that it has closed an $80 million floating rate senior unsecured deposit note offering. CIBC World Markets Inc. acted as the sole agent on this transaction. The deposit notes mature on September 12, 2014 and have a coupon equal to the three-month BA rate plus 75 bps (reset quarterly). The deposit notes are senior unsubordinated liabilities that rank pari passu with all of Concentra-s deposit liabilities, other than obligations preferred by mandatory provisions of law.
The net proceeds of the offering will be used by Concentra for general corporate purposes.
Concentra is a Canadian private company that works with credit unions and strategic partners to enhance the success of the Canadian credit union system and its members by delivering a full suite of competitive, high-quality financial and trust services. For more information, visit .
Contacts:
Concentra Financial
Dallas Marce
Senior Vice-President, Financial Intermediation
306-956-1415